If you've been reading L.A. Weekly in recent months, you know the Southern California real estate market has been off the chain lately, with all-cash offers, competitive bidding and pre–Great Recession prices.
See also: Another SoCal Housing Bubble Already?
Now Coldwell Banker Real Estate says the most expensive homes in the United States are right here in L.A. County. They're next to the beach, of course — a very famous beach at that:
The 'Bu. As in Malibu.
While SoCal communities sporadically make lists of the most expensive real estate in America, Coldwell says this one is definitive because it's an “apples-to-apples” comparison that looks at the prices of four-bedroom, two-bathroom homes in 1,900 towns.
Other lists often look at the average selling price of all properties.
In the case of that four-bed house, you'd have to fork over $2.15 million in Malibu. Coldwell Banker's Malibu-based agent Madison Hildebrand, star of Bravo's Million Dollar Listing, says:
With its laid-back yet star-studded lifestyle, Malibu is undergoing a transformation from a seasonal destination to a year-round locale. Situated on the Southern California coast with beautiful homes and even more stunning views, you're not only paying for world-class properties, you're paying for a way of life.
At the other end of the spectrum, you could get such a residence in Cleveland for $63,729 and live without the paparazzi.
Coast to coast, the average price of a similar house is $301,414, Coldwell says.
But in California, we have 13 of the 25 most expensive markets in the United States, the real estate company says.
In fact, Newport Beach in the O.C. was No. 2 on the list. San Francisco made No. 5. Cupertino was No. 7. Redwood City was 10th, Pasadena came in at 14, Sunnyvale was 17, Santa Barbara was 18 and Danville was 19.
Read 'em and weep: